The Third Plenary Session of the 11th CPC Central Committee in 1978 kicked off China’s reform and opening up. After more than 40 years of exploration, China has basically established a socialist market economy. This is an unprecedented system change. Generally speaking, China is a country with vast territory, multi-nations, and weak economic foundation. However, in a complex environment where domestic and international challenges are intertwined, it has completed a rare system transformation in human history in a relatively short period of time and achieved the goal of economic take-off and industrialization. So there must be experience worth summarizing. From an international perspective, many countries have promoted similar transformation or market-oriented reforms, but most of them have only achieved a short-term prosperity, and many have encountered major setbacks or failures in their reforms. Therefore, China’s successful experience in reform and opening up is particularly important and precious.